Real Estate Investing: 10 Ways to Make 2015 Your Best Year Ever
Ready to launch into 2015 and make this your best year in real estate yet? Here are ten ways to jump-start your 2015:
Reinvigorate Your Morning Ritual
The first few minutes of each day make a massive difference in how much you accomplish, how much progress you achieve in your real estate investing goals, and how you are impacted (or not) by what comes over the hours ahead. The most successful investors, CEOs, and entrepreneurs all have some form of daily ritual. For some, it is yoga and meditation. For others: reading and walking. Some might dedicate a whole power hour to working through their goals and pumping themselves up for the day. Even if you already have one, it’s easy to get in a rut, and let routine dull the power of these moments. So shake it up. Add new moves to your morning workout, tune into new sources of information, and consider trying out new breathing or cold therapy techniques to really get your brain in gear.
Expand Your Network
The number of new people you meet and connect with each day is directly correlated to the level of success you realize. It’s great to have regular coffee meetings and lunches with trusted advisers, but even those at the top need to constantly be making new connections if they want to stay on top. This can be done offline as you go about your day, through organized networking events, or online via Google+ and LinkedIn. However you do it, just commit to making at least 10 new contacts each day, at a minimum.
Boost Your Real Estate Investing Education
There is so much to learn. You might not need to know and understand all of the intricacies of the secondary mortgage market, home appraisals, or construction in order to make all the money you desire in real estate. However, the more you do learn, the more profitable your efforts will be, the less snags you’ll encounter, and the better you’ll be able to converse with confidence. So if you haven’t already subscribed to a real estate blog, picked up a new real estate investing course, or booked your seat at a seminar, do so as soon as you can. This will be one of your best investments of the year.
Elite real estate players collaborate. Even if you are still working your way up the ladder, collaboration can be one of the best tools to gain traction. Look for opportunities to work with others on real estate marketing and lead generation to increase your ROI, deal flow, and build powerful partnerships.
Get a Real Tax Plan
There are many ways for real estate investors to slash tax liability and boost their net returns. Still, even beyond traditional real estate investing tax benefits, self-directed IRAs, and having a good accountant, there is so much more to be gained from having a real, year round tax plan. Make this the year you really implement a tax plan.
Give Your Real Estate Website a Makeover
Don’t let a poor real estate website hold back all of the other great moves and marketing efforts you are making in 2015. If you haven’t upgraded or polished your website recently, it is the time to do it. Consider a smart, mobile-friendly website redesign, or at least brush up your content with the best keywords.
Freedom to travel is one of the best benefits and luxuries real estate investing affords. Exercise your freedom. Travel somewhere this year, if not all year. Take in new cultures and glean tips from the way other people are doing real estate. Take some time to relax, enjoy life, and experience more of what the world has to offer. You may not realize it, but time away could make for great returns int he future. Sometimes all you need is a proper reset.
Make Some Progress On Your Retirement
It’s true that real estate investing is one of, if not, the best tools for getting ahead of retirement. For many, it is the path to early and sustainable retirement. However, it is easy to get caught up in the thrill of deal making and being driven by ambition to eternally scale bigger. There is nothing wrong with that, but investors do need to make sure they are stashing away something for true retirement. This could mean dedicating a couple of turnkey income properties to their retirement, setting aside the proceeds of one wholesaling deal per month towards their nest egg, or committing a specific percentage of their income each month to IRAs, trusts or other vehicles.
Secure More Capital
Borrowing will get more expensive. Those with access to capital have the upper hand for seizing on the best opportunities and generating the maximum ROI. So make a point of seeking out, connecting with, and negotiating new sources of more attractive capital.
Recruit More Help
If you want to go bigger in 2015, you are going to want more hands on deck. Bring on more assistants, delegate down and get more functions off your plate. If you haven’t yet; find your replacement. Look for someone to bring in or groom as your GM or portfolio manager so that you can get on with enjoying the rewards of real estate investing.